In this article, we will discuss the 17 Most Valuable E-Commerce Companies in the World. You can skip our industry overview and go directly to the 5 Most Valuable E-Commerce Companies in the World.
The eCommerce market was valued at $16.6 trillion in 2022. As per Imarc Group, the eCommerce industry will be worth $70.9 trillion by 2028, expected to grow at a compound annual growth rate (CAGR) of 27.43% from 2023 to 2028. Rapid urbanization, rising internet penetration, and integration of eCommerce platforms with devices such as smartphones and laptops are boosting this market’s growth.
According to UNCTAD projections, the surge in eCommerce after the outbreak of COVID-19 increased the percentage of online retail sales in overall retail sales from 16% to 19% in 2020. The increase in digitization after the outbreak of the global pandemic proved favorable for this sector, with McKinsey claiming that e-commerce has risen 2 to 5 times faster than before the pandemic.
According to Statista, the eCommerce market size by country indicates that China will remain the world’s largest e-commerce market in 2022, with an estimated value of $1.5 trillion. With $875 billion in sales revenue, the United States is the second-largest e-commerce market behind China. Japan is ranked second in terms of e-commerce market size by country, followed by two European countries, Germany and the United Kingdom. South Korea is in sixth place, and India is ranked seventh.
The last few years also saw the rise of social commerce, with the market predicted to reach $1.2 trillion by 2025. This phenomenon combines online purchasing with the use of social media platforms; vendors use it to promote their items and redirect the user to their webpage, while customers use it to write and read product reviews. This also makes social media